Property — Residential, Commercial & Development

A commercial property solicitor handles the legal side of buying, selling, leasing and financing business premises. That covers title investigation and searches, drafting and negotiating contracts and leases, advising on risk, dealing with lenders, and completing the transaction including Stamp Duty Land Tax and Land Registry. For occupiers and investors it also covers ongoing landlord and tenant matters such as renewals, consents and rent reviews.

Security of tenure is a business tenant's statutory right to renew its lease when the term ends, given by Part II of the Landlord and Tenant Act 1954. Where the right applies, the tenancy continues after the contractual end date until ended by the correct notice, and the landlord can only refuse a renewal on one of the grounds set out in section 30. The parties can agree to remove this protection by contracting out before the lease is granted, using the statutory warning notice and tenant declaration.

Yes, but only on one of the statutory grounds in section 30 of the Landlord and Tenant Act 1954, such as the tenant's persistent rent arrears, serious breach of obligations, the landlord's intention to redevelop, or the landlord's intention to occupy the premises. The landlord must state the ground in a section 25 notice. Some grounds entitle the tenant to compensation if the lease ends. If no statutory ground applies, the tenant is entitled to a new lease on terms set by agreement or, failing that, by the court.

It depends on whether you value the right to renew or the freedom to walk away. A lease inside the Act gives a business tenant security of tenure and a statutory right to a new lease, which suits occupiers who want to stay long-term. A lease contracted out of the Act ends cleanly on the term date with no renewal right, which landlords often prefer and which can suit short-term or flexible occupation. Contracting out must follow the statutory procedure before the lease is signed, so the choice has to be made early.

It varies with the title, the searches, any leases in place and the lender, and deals with development finance, conditional contracts, off-plan elements or complex title take longer. The biggest delays usually come from incomplete information, so we front-load title investigation and enquiries — and give you a realistic timetable once we have seen the title.

Dilapidations are the cost of putting leased premises back into the condition the lease requires, usually claimed by the landlord at or near the end of the term. They turn on the repair, decoration and reinstatement obligations in the lease, and the landlord's recoverable loss can be capped by section 18 of the Landlord and Tenant Act 1927. Tenants can manage exposure by negotiating a schedule of condition at the outset and reviewing the repair clause before signing. We advise both landlords and tenants on serving, defending and settling dilapidations claims.

Assigning a lease transfers the whole of your interest to a new tenant, who then deals directly with the landlord, while subletting creates a new lease underneath yours and you remain liable to your own landlord. Both usually need the landlord's consent under the lease, and an assignment often requires the outgoing tenant to guarantee the incoming one through an authorised guarantee agreement. Which route is right depends on how much liability you are willing to keep, so it is worth advice before you commit.